Over the past decade, shareholder activists and (more recently) ESG activists have made significant progress in the Asia-Pacific region. Their efforts put errant managements on notice, led to regulatory reforms, enhanced shareholder influence, improved governance and set encouraging examples for others to follow. What are the key lessons to learn from recent cases of successful shareholder activism in Japan, Australia, and other markets in the region, and are there limits to activism? How should various investors engage with companies to drive positive changes in corporate governance as they emerge from the pandemic?